I recently moved to a new home with metal studs in the basement. I want to hang a flatscreen LCD TV, it's about 120 lbs (with wall mount), someone says the studs may bend, can anyone confirm this?

I could see that happening, maybe not bending, but the fact that the metal studs are very thin I can see where it would be a problem, id fasten it to at least 2 of the metal studs and then also use some screw in anchors for extra support, or install some 2x4 blocks behind the wall

If the studs are 2x4 and there is drywall on both sides, they should support your TV.

I recently moved to a new home with metal studs in the basement. I want to hang a flatscreen LCD TV, it's about 120 lbs (with wall mount), someone says the studs may bend, can anyone confirm this?
I would be careful with this installation. Your right in saying that the metal stud/studs may bend not right away but within time they will. You should try using a sheet of ply to distribute the weight to a larger surfis of the wall with may fastners if plywood is not to your liking there are other types of material you could use. But I wouldn't recommend using a wall mount fastened to studs alone you need more.